Editing Retail (section)

==Method==
When discussing the impact of technology on shopping and retail, e-commerce is often the first thing that comes to mind for retailers. However, technologies such as big data, artificial intelligence, computer vision and the Internet of Things have used data to transform every part of the shopping experience, from browsing to checkout.<ref>{{Cite journal |last=Wang |first=Cuimin |date=17 June 2021 |title=Analyzing the Effects of Cross-Border E-Commerce Industry Transfer Using Big Data |journal=Mobile Information Systems |volume=2021 |pages=1–12 |doi=10.1155/2021/9916304 |issn=1875-905X|doi-access=free }}</ref>

It is important for organizations to embrace digital disruption in order to gain a competitive advantage. When an industry experiences digital disruption, it typically signals that consumer needs are shifting. Retailers enhance their analytics process and make better informed decisions thanks to big data, artificial intelligence, computer vision, and the Internet of Things. The use of data by retailers is mostly evident in the following aspects, based on the above-mentioned new technologies:<ref>{{Cite web |last1=Kenton |first1=Will |last2=Rhinehart |first2=Charlene |date=2011-01-04 |title=Retail Inventory Method: Definition, Calculation, and Example |url=https://www.investopedia.com/terms/r/retail-inventory-method.asp |url-status=live |archive-url=https://web.archive.org/web/20210728013907/https://www.investopedia.com/terms/r/retail-inventory-method.asp |archive-date=2021-07-28 |access-date=2024-06-19 |website=[[Investopedia]]}}</ref><ref>{{Cite web |last=Jan |first=Irfanullah |date=2012-03-16 |title=Retail Method of Inventory Estimation |url=https://xplaind.com/145742/retail-method |url-status=live |archive-url=https://web.archive.org/web/20200809103520/https://xplaind.com/145742/retail-method |archive-date=2020-08-09 |access-date=2024-06-19 |website=XPLAIND.com}}</ref>

* Enhance marketing by Personalizing customer experience
* Optimize supply chain management
* Adjust prices to maximize profits

Many leading brands choose to target tourists who specifically travel to shop or spend money while on vacation.  According to the Global Retail Tourism Market Report 2019–2023,<ref>{{Cite web|url=https://view.publitas.com/9460a897-7068-442c-b76b-4e8711cc9b9e/global-travel-retail-market-research-report-and-forecast-to-2019-2023/page/1|title=My publications - Global Travel Retail Market Research Report and Forecast to 2019-2023 - Page 1 - Created with Publitas.com|website=view.publitas.com|access-date=11 April 2023|archive-date=11 April 2023|archive-url=https://web.archive.org/web/20230411145157/https://view.publitas.com/9460a897-7068-442c-b76b-4e8711cc9b9e/global-travel-retail-market-research-report-and-forecast-to-2019-2023/page/1|url-status=live}}</ref> the value of the global shopping tourism market was estimated to be around $1.2 trillion in 2018. The report also forecasts that the market will grow at a compound annual growth rate (CAGR) of 6.7% from 2019 to 2023. In 2023 [[Kogan Page]] published a critically acclaimed<ref>{{Cite web|url= https://www.moodiedavittreport.com/changegroup-ceo-sacha-zackariya-publishes-book-on-travel-and-tourism-leadership/.html|title=MoodieDavitt Report|date=5 April 2023}}</ref> book "[https://www.amazon.co.uk/Leading-Travel-Tourism-Retail-Sustainably/dp/1398609501/ref=sr_1_1?crid=26IRSF5THA0ZK&keywords=Sacha+zackariya&qid=1681085236&sprefix=sacha+zackariya%2Caps%2C91&sr=8-1 Leading Travel and Tourism Retail]", which researched in depth the travel retail sector post [[COVID-19|COVID]].